Japan Secures Rare Earth Deals with U.S. and France

Japan entered two major strategic agreements on March 31, 2026, to diversify its critical mineral supply chains and reduce reliance on China. In a corporate partnership, Mitsubishi Materials Corporation invested in ReElement Technologies Corporation, an affiliate of American Resources Corporation, to address midstream bottlenecks in mineral separation and purification. The collaboration combines ReElement's chromatographic refining technology with Mitsubishi's infrastructure to expand refining capacity in the United States and explore recycling solutions in Japan.

Simultaneously, the Government of Japan and the Government of France signed a cooperation roadmap during President Emmanuel Macron's visit to Japan. The agreement focuses on securing raw materials for Caremag, a rare earths refining project in southern France. Japan intends to source approximately 20% of its future demand for terbium and dysprosium—minerals essential for wind turbines and electric vehicle motors—from the plant, which is slated to begin operations in late 2026.

French Finance Minister Roland Lescure and ReElement CEO Mark Jensen both framed these initiatives as essential for national security and industrial competitiveness. In addition to the mineral roadmap, the leaders of Japan and France planned to coordinate on 12 joint space projects, including rocket launches and the removal of space debris.